Nestled in the esteemed Venning Crescent of Cromwell, Otago, is a prime commercial lot measuring 2646sqm, offered on a Freehold title. This vacant industrial land, while the specifics of its wall and roof construction remain unknown, presents a unique opportunity for investors and developers. The capital value has seen an impressive increase from $550,000 in September 2019 to $1,020,000 as of October 2022, reflecting an growth rate of 85.45%. The property is fully fenced and gated, with essential services like power and water readily available at the boundary.
Valued at $995,000 by HouGarden AVM, the property's latest sale record stands at $1,195,000, indicating a high market demand. This commercial gem in a thriving area is perfect for constructing your dream commercial space or capitalizing on the bustling market of Cromwell. The strategic location of Cromwell, at the heart of Central Otago, enhances the investment's potential, making it an attractive opportunity to join the dynamic business community.
For families, the property falls within the zone of Goldfields School, a contributing school with a decile rating of 8. This prime commercial land is not just a sound investment but also a step towards securing a promising future for your family.
Updated on July 26, 2024
Address | Distance | Bed | Bath | Floor area | Sold date | Sold | Data source | |
|---|---|---|---|---|---|---|---|---|
 | 0.48 km | 3 | 1 | 105m2 | Year 2025 Month 01 Day 28 | $840,000 | Council approved | |
0.26 km | 3 | 126m2 | Year 2024 Month 12 Day 10 | $900,000 | Council approved | |||
0.39 km | 2 | 145m2 | Year 2024 Month 11 Day 26 | $890,000 | Council approved | |||
0.39 km | 2 | 2 | 145m2 | Year 2024 Month 11 Day 26 | - | Council approved | ||
 | 0.44 km | 3 | 3 | 109m2 | Year 2024 Month 09 Day 12 | $625,000 | Council approved |